Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers..
On January 17, 2020, the Executive Compensation Committee (the "Compensation
Committee") of the Board of Directors of The J. M. Smucker Company (the
"Company") adopted and approved The J. M. Smucker Company Executive Severance
Plan (the "Severance Plan"), effective January 17, 2020, for elected officers of
the Company. The Severance Plan provides for the payment of severance and other
benefits to eligible employees in the event of a termination of employment with
the Company without cause (as defined in the Severance Plan) or for certain
other specified reasons (each, a "Qualifying Termination"). On July 13, 2020,
the Compensation Committee adopted and approved a revised version of the
Severance Plan to amend Section 3.02(a)(ii) to specify that an involuntary
termination without cause (as defined in the Severance Plan) would constitute a
Qualifying Termination.
The above description is a summary of the terms of the Severance Plan and is
subject to and qualified in its entirety by the terms of the Severance Plan, a
copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
Exhibit Exhibit
Number Description
10.1 The J.M. Smucker Company Executive Severance Plan.
104 The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.
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